Mahindra & Mahindra reported a 87 per cent increase in its domestic passenger vehicle sales to 29,852 units in August. According to regulatory filings of Mahindra & Mahindra, the company had sold 15,973 units in the same month last year. In the month under review, 336 cars and vans were sold as compared to 187 units in the same month last year. According to the firm, 21,492 vehicles were sold in the commercial vehicle market in August 2022 as against 8,814 vehicles were sold in the same month last year.
Mahindra & Mahindra President, Automotive Division Vijay Nakra said that demand remains strong across the company’s portfolio and new launches such as the Scorpio-N, Scorpio Classic and the new Bolero Max pick-up also helped drive the growth.
“Supply chain conditions for select product lines remain dynamic, and we are taking appropriate actions to minimize the impact,” he said. In the tractor segment, M&M said last month’s total sales stood at 21,520 units as compared to 21,360 units in August 2021. Domestic tractor sales stood at 20,138 units as against 19,997 units in the year-ago month, while exports stood at 1,382 units last month. As against 1,363 units in the month, August 2021.
Mahindra & Mahindra President – Farm Equipment Sector Hemant Sikka, “We expect the demand to improve with tractor purchases on auspicious days in the festive season as farmers start preparing for harvesting. We see strong demand for tractors in the festive season. are preparing.” Told.
Meanwhile, Mahindra is also planning to launch its new Mahindra XUV400 electric SUV in the Indian market. The new electric SUV from the automaker will be launched on World EV Day which is September 9. When launched, the SUV will compete with the Tata Nexon EV, MG ZS EV, and other variants in the similar category.
With inputs from PTI